The Zacks Investment Management Acquires New Position in Quidel Corp. (QDEL)

The Zacks Investment Management Acquires New Position in Quidel Corp. (QDEL)

Zacks Investment Management acquired a new stake in shares of Quidel Corp. (NASDAQ:QDEL) during the third quarter, Holdings Channel reports. The institutional investor acquired 34,154 shares of the company’s stock, valued at approximately $754,000. Zacks Investment Management owned about 0.10% of Quidel Corp. at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Brown Capital Management LLC increased its position in shares of Quidel Corp. by 0.4% in the second quarter. Brown Capital Management LLC now owns 5,748,536 shares of the company’s stock valued at $102,669,000 after buying an additional 23,100 shares during the last quarter. Janus Capital Management LLC increased its position in shares of Quidel Corp. by 1.3% in the second quarter. Janus Capital Management LLC now owns 2,265,082 shares of the company’s stock valued at $40,454,000 after buying an additional 29,825 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Quidel Corp. by 1.7% in the second quarter. Vanguard Group Inc. now owns 1,963,521 shares of the company’s stock valued at $35,069,000 after buying an additional 32,681 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Quidel Corp. by 27.7% in the second quarter. Macquarie Group Ltd. now owns 858,387 shares of the company’s stock valued at $15,331,000 after buying an additional 186,020 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Quidel Corp. by 7.2% in the third quarter. BlackRock Fund Advisors now owns 685,761 shares of the company’s stock valued at $15,148,000 after buying an additional 46,271 shares during the last quarter. 92.18% of the stock is owned by institutional investors and hedge funds.

Quidel Corp. (NASDAQ:QDEL) traded down 1.11% during midday trading on Thursday, hitting $19.52. 94,317 shares of the stock traded hands. The stock’s 50-day moving average price is $21.12 and its 200 day moving average price is $21.32. The company’s market capitalization is $637.19 million. Quidel Corp. has a 52 week low of $13.21 and a 52 week high of $23.94.

Quidel Corp. (NASDAQ:QDEL) last announced its earnings results on Wednesday, October 26th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.12. Quidel Corp. had a negative net margin of 6.40% and a negative return on equity of 0.81%. The business earned $49.30 million during the quarter, compared to analyst estimates of $50.88 million. During the same period in the previous year, the business posted ($0.05) earnings per share. Quidel Corp.’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Quidel Corp. will post ($0.27) EPS for the current year.

Several brokerages have issued reports on QDEL. Piper Jaffray Cos. cut shares of Quidel Corp. from an “overweight” rating to a “neutral” rating and set a $22.00 price target for the company. in a research report on Friday, December 16th. Zacks Investment Research cut shares of Quidel Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Canaccord Genuity set a $22.00 price target on shares of Quidel Corp. and gave the company a “hold” rating in a research report on Thursday, October 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $21.58.

In other Quidel Corp. news, CEO Douglas C. Bryant sold 24,000 shares of Quidel Corp. stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $23.02, for a total transaction of $552,480.00. Following the completion of the sale, the chief executive officer now directly owns 298,011 shares in the company, valued at $6,860,213.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John Tamerius sold 8,878 shares of Quidel Corp. stock in a transaction that occurred on Friday, November 25th. The shares were sold at an average price of $23.50, for a total transaction of $208,633.00. Following the sale, the senior vice president now owns 32,418 shares of the company’s stock, valued at $761,823. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,878 shares of company stock valued at $4,327,753. 23.40% of the stock is currently owned by company insiders.

Quidel Corp. Company Profile

Quidel Corporation is engaged in the development, manufacturing and marketing of diagnostic testing solutions. The Company’s diagnostic testing solutions primarily include applications in infectious diseases, women’s health and gastrointestinal diseases. It sells its products directly to end users and distributors, in each case, for professional use in physician offices, hospitals, clinical laboratories, reference laboratories, universities, retail clinics and wellness screening centers.

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